Industrial portfolio acquired in £30m deal

Vengrove has acquired a regional portfolio of six single-let industrial units spread across the Midlands and North of England from Bollinwater Estates, for £30m.

The portfolio extends to 777,000 sq ft in locations such as Redditch, Birmingham, Wolverhampton, Seaham, Workington and Billingham, and includes tenants such as CEVA, Meggitt Aerospace, Sims Group Limited and Speciality Steel (UK).

Chris Bampton, director, national capital markets, Colliers International, said: “The disposal of Project Yellow concludes the balance of the Bollinwater Estates portfolio, bringing to an end the highly successful joint venture that was set up to invest in industrial assets across the UK.”

David White, partner at Tyndaris Real Estate, added: “This successful sale represents the culmination of a proactive asset management strategy across the portfolio. Our thanks goes to all who have worked to achieve this great result over the past several years.”

Colliers International advised the vendor Bollinwater Estates. DTRE advised Vengrove.